One of the most controversial stock, Tesla stock (TSLA) continues to polarize investors. Today the stock jumped up and is at a buy point. Tesla shares are trading at a 4.6% discount to the 9-month high of October 25, updated earlier amid the publication of a strong quarterly report. Earnings per share reached $1.91 instead of an expected loss of $0.46 per share. In addition, the company announced the successful implementation of projects of the new Model Y electric car and the construction of previously planned Gigafactory 3.
Over the past week, Tesla shares fell by 4.52%. Over the same period, the S&P 500 Index rose by 1.47%.
Support and resistance
The issuer shows positive dynamics. #TSLA quotes renewed local highs. The company’s shares are currently being consolidated. The key support and resistance levels are 300.00 and 330.00, respectively. There is potential for further growth. The signals of the indicators differ: the price fixed above MA (50) and MA (200); MACD began to decline. It is better to open the positions from the key levels.
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A comparative analysis of the multiples of the company and competing companies in the industry indicates the neutrality of #TSLA.
Resistance levels: 330.00, 350.00.
Support levels: 300.00, 275.00, 260.00.
Long positions may be opened after the price consolidates above the level of 330.00. The closing of the profitable positions is possible at the levels of 350.00, 370.00 and 380.00. Stop loss – 310.00.
Short positions may be opened after the price consolidates below the level of 300.00 with the targets at 270.00–250.00. Stop loss – 320.00.
Implementation period: 3 days.
Tesla, Inc. electric vehicles and generating systems and power storage designing, developing, manufacturing and selling in the United States, China, the Netherlands, Norway and internationally. The company operates in two items, automotive generation and storage and energy. The automotive segment brings sedans vehicles and sports utilities. It also provides components for electric vehicles and powdered systems for other manufacturers; and services for electric vehicles through its company owned service centers, Plus Service centers and Tesla mobile technicians. This segment sells its products through a network of company owned shops and galleries. The segment offers power generation and storage energy storage products, such as lithium-ion battery systems that are rechargeable for use in homes, commercial facilities and utility networks; designs, manufactures, installs, maintains, leases, leases, leases, leases, leases, leases, leases, leases and sells to residential and commercial customers; and the sale of renewable energy to residential and commercial customers. Named Tesla Motors, Inc. The company had previously changed its name to Tesla, Inc.. Tesla, Inc. was established in 2003 and is based in Palo Alto, California.
TSLA Stock Recommendations
Oct-29-19 Downgrade ROTH Capital Neutral → Sell $249
Oct-25-19 Reiterated Barclays Underweight $150 → $200
Oct-24-19 Reiterated RBC Capital Mkts Underperform $190 → $220
Oct-24-19 Reiterated BofA/Merrill Underperform $225 → $235
Oct-03-19 Reiterated Wedbush Neutral
Oct-03-19 Reiterated Nomura Neutral
Oct-03-19 Reiterated Needham Underperform
Oct-03-19 Reiterated Morgan Stanley Equal-Weight
Oct-03-19 Downgrade JMP Securities Mkt Outperform → Mkt Perform
Oct-02-19 Initiated Exane BNP Paribas Outperform
Jul-25-19 Reiterated Oppenheimer Outperform $437 → $356
Jul-22-19 Downgrade ROTH Capital Buy → Neutral $238
Jun-28-19 Reiterated UBS Sell $200 → $160
Jun-27-19 Initiated Credit Suisse Underperform
Jun-20-19 Reiterated Goldman Sell $200 → $158
Jun-10-19 Upgrade ROTH Capital Neutral → Buy $238
May-30-19 Reiterated Barclays Underweight $192 → $150
May-22-19 Reiterated Citigroup Sell $238 → $191
May-20-19 Reiterated Wedbush Neutral $275 → $230
May-15-19 Reiterated Evercore ISI Underperform $240 → $200